📷 Image Credits: The Economic Times
NSE Indices, a subsidiary of NSE, has recently launched India’s first electric vehicle index called Nifty EV & New Age Automotive Index. This initiative is aimed at tracking the performance of companies that are a part of the electric vehicle ecosystem. The index, with a base date fixed on April 2, 2018, and a base value of 1,000, will undergo reconstitution semi-annually and rebalance quarterly. This move by NSE Indices is poised to revolutionize the electric vehicle industry in India.
The Nifty EV & New Age Automotive Index is a significant step towards promoting the adoption and growth of electric vehicles in the country. It will enable asset managers to invest in the electric vehicle and new age automotive market, providing a platform for investors to explore opportunities in this emerging sector.
NSE Indices Ltd., in a statement, expressed their excitement about the launch of the index. They highlighted that the index will not only pave the way for the creation of new products but also serve as a benchmark for asset managers. This index is expected to open up avenues for investment in the electric vehicle segment, aligning with the government’s vision of promoting ‘Make in India’ and attracting global manufacturers to set up base in the country.
With a base date of April 2, 2018, and a base value of 1,000, the Nifty EV & New Age Automotive Index is set to become a vital tool for market participants, providing insights into the performance of companies involved in the electric vehicle ecosystem. The index’s semi-annual reconstitution and quarterly rebalancing will ensure its alignment with the dynamic nature of the sector.
Overall, the launch of India’s first electric vehicle index by NSE Indices marks a significant milestone in the country’s journey towards sustainable and eco-friendly transportation. This move is expected to stimulate further investments in the electric vehicle sector and drive innovation in the development of new age automotive technologies, positioning India as a key player in the global electric vehicle market.
